FOSTER CITY, CA—In what the company stated was an effort to better cater to the financial realities of its customers, Visa has reportedly introduced a new preloaded debt card, sources confirmed Tuesday. “Our new debt card is available in outstanding balances from $50 to $150,000 on our platinum offering, allowing customers to begin owing money immediately,” said Visa CEO Al Kelly, adding that over the next few weeks, all current and pre-approved prospective Visa customers would receive a debt card in their name, and if they activate it within 30 days, they could receive an extra $1,000 in debt without any additional fees. “This is the kind of debt that can take years to accumulate, ready and waiting for you on the preloaded card. The debt card offers something for all our customers, whether it’s young people who haven’t had a chance to go into the red yet, or families who could use a little help toward losing their home. At Visa, we really wanted to give our customers a chance to build up strong and lasting debt.” Kelly added that the preloaded debt cards came with free debt monitoring services, in which Visa would track their debt scores, as well as notify customers if they could participate in any fraudulent deals or services.
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